Missouri State to buy Boonville property near JVIC and eFactory

Missouri State plans to buy land on Boonville Avenue, south of Phelps Street and sandwiched between the eFactory and the Jordan Valley Innovation Center.

The university's Board of Governors will be asked to vote Friday to approve the contract for the property in the 400 block of Boonville. The half-acre lot is adjacent to a university parking lot.

According to the agenda for the meeting, the negotiated purchase price is $490,000 — 20% less than the appraised value of $605,000.

The seller is J. Matthew Miller. He is working with the Missouri State Foundation to recognize the difference between the appraised value and purchase price as a donation.

If approved, MSU plans to close on the property, which is not currently in use, by April 28.

The now vacant lot is the former home of Touché Nightclub at 424 N. Boonville St., a gay bar just north of the Park Central Square that was a safe haven for the LGBTQ community.

Matt Morris, vice president for administrative services, said the university owns property surrounding the lot that is up for sale.

He said the university does not yet have specific plans for the property. In the short-term, it may be used to expand parking.

"It could be a potential development site. There are multiple opportunities," Morris said. "It is just with us having all the properties there surrounding it, this is a section of land that we have certainly been interested in acquiring."

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Morris added: "We see this as a real win. We appreciate, certainly, developer Matt Miller working with us on the sale."

The purchase is expected to be discussed during the board's finance and facilities committee meeting Thursday and the full board meeting Friday.

Claudette Riley covers education for the News-Leader. Email tips and story ideas to criley@news-leader.com.